CCR1987115COMMON COUNCIL - CITY OF MUSKEG0
RESOLUTION #115-87
COLLATERAL SECURITY AND CONSENT TO CORPORATE CHANGE TO
AUTHORIZING EXECUTION OF ASSIGNMENT OF FRANCHISE AS
INGERSOLL INDUSTRIES, INC., A WISCONSIN CORPORATION
(Ingersoll Cable Corporation)
WHEREAS, John S. Ingersoll, Jr. has requested City consent to
the corporate steps outlined in his letter dated May 20, 1987,
copy attached, and to the collateral assignment of his
franchise to operate in Muskego, together with a general pledge
of assets, to the Bank of New England, and
WHEREAS, the Finance Committee has recommended approval.
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the
City of Muskego, upon the recommendation of the Finance
Committee, does hereby consent to the corporate steps whereby
Ingersoll Cable Corporation became Ingersoll Industries, Inc.,
a Wisconsin Corporation; and, to the collateral assignment of
with a general pledge of their assets, to the Bank of New
their franchise to operate in the City of Muskego, together
England.
BE IT FURTHER RESOLVED that by consenting to the above, the
City does not waive any of its rights under the applicable
agreements with Ingersoll Cable Corporation and applicable laws
and ordinances.
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DATED THIS 26th DAY OF May Y 1987.